Don’t Miss Out On The Metaverse: Introducing Apecoin (APE) and FIREPIN Token (FRPN)

By May 19, 2022The Sandbox
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When Mark Zuckerberg officially unveiled his intentions to get in on the trend – going as far as to rename his company from Facebook to Meta to reflect the change in corporate strategy – we knew the concept of the metaverse was going to be huge.

The metaverse is more than just a buzzword, it’s a fundamental component of several cryptos featured in the top 50 cryptocurrencies list (ranked by market capitalisation). As a result, there are many promising new and established projects to consider and many duds to watch out for.

We take a look at three promising crypto projects that are doing something original in the metaverse space: Apecoin (APE), FIREPIN Token (FRPN), and The Sandbox (SAND).

Yuga Labs, the team behind Bored Ape Yacht Club (BAYC), recently announced that it would be releasing its metaverse called the Otherside, which resulted in a near-instant sell-out of their virtual land deeds called Otherdeeds upon launch. To purchase Otherdeeds, you had to buy Yuga Labs’ token Apecoin (APE), which will also be the native token for the forthcoming Otherside metaverse’s ecosystem.

Ownership of NFTs from Yuga Labs’ collections such as Bored Apes, Mutant Apes, and Otherdeeds gives special access privileges and benefits in the Otherside metaverse. In addition, Otherside will include compatibility for all of Yuga Labs NFTs and NFTs from other metaverses, which will allow the project to build on its popularity whilst maintaining exclusivity.

BAYC hit the headlines late last year when it surpassed CryptoPunks as the NFT collection with the highest floor prices. This popularity hit mainstream success with celebrities like Madonna announcing their ownership of Bored Apes. The NFTs have proven the value of scarcity and exclusivity with a well-marketed collection.

FIREPIN Token (FRPN) is used for utility and governance on the FIREPIN protocol and its ecosystem. FIREPIN is a community-driven protocol that offers crypto rewards to users who hold and stake their tokens and the ability to contribute to the network’s decision-making process by voting on proposals.

These staked tokens are held in a pool that provides liquidity to lending pools, which are used to provide crypto loan services on the platform. Interest on these loans is then paid into the pools and distributed between the FIREPIN treasury and the users who staked their FIREPIN Tokens (FRPN).

FIREPIN Swap features a multi-chain swappable smart contract so users can exchange between FIREPIN Token (FRPN) and other cryptocurrencies immediately and at the best price. Tokens earned from lending pools as well as from transaction fees paid on FIREPIN Swap will be used to fund ecosystem product developments, including virtual and 3D metaverse games.

The Sandbox is a metaverse game built on Ethereum and hosted on a custom Minecraft server, requiring a Microsoft account and a copy of Minecraft on the PC to play. Its native token is The Sandbox (SAND), one of the largest metaverse-related cryptos in market capitalisation.

Users can create, sell, and own NFT assets in The Sandbox’s online multiplayer virtual space and build and share worlds and experiences created on LANDS: purchasable land deeds representing real space in the game.

Firepin Token (FRPN)

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